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Charges over MCI scandal.

State prosecutors in Oklahoma last night filed criminal charges against telecoms operator MCI - the former WorldCom - and six former executives, including ex-chief executive Bernie Ebbers, in connection with the phone carrier's $11 billion (pounds 7 billion) accounting scandal.

Attorney general Drew Edmondson said that charges have been filed alleging violation of Oklahoma security laws. He the company and the former executives of a 'scheme to artificially inflate the value of WorldCom stock and bonds by intentionally falsifying information'.

US federal investigators previously declined to charge the company itself because of fears that it could be put out of business with the loss of 5,000 jobs. Instead, federal investigators have filed charges against several senior executives.
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Aug 28, 2003
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